Phase 3
ActiveSummary
Phase 3 has been active since 1979 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €178k and a net result of €97k. Equity is growing by ~12.3% per year across the filed fiscal years. Its solvency ranks better than 70% of 307 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100=
Solvency90▲+16
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €16k at 30 days acceptable
Liquidity ample (current ratio 2.92 against 2.01 in 2023; short-term debt: 32% and cash: 63.3% of total assets), and 35% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 20
Relative position
BE, all sectors
reference
Manufacture of chemicals and chemical products (NACE 20)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 27-06-2025, 34 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
34 d early
2023
40 d early
2022
28 d early
2021
23 d late
2020
24 d late
2019
28 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
€321k
EBIT margin
4.5%
Net result
€97k▲ 5.3%
2023 · €93k
2018: €8klowest in 7 years
2019: €17k▲ +114% vs 2018
2020: €42k▲ +153% vs 2019
2021: €38k▼ -8.5% vs 2020
2022: €89k▲ +133% vs 2021
2023: €93k▲ +3.4% vs 2022
2024: €97k▲ +5.3% vs 2023highest in 7 years
2018 → 2024
Working capital
€168k▲ 38.7%
2023 · €121k
2018: €62klowest in 7 years
2019: €82k▲ +32.0% vs 2018
2020: €86k▲ +5.2% vs 2019
2021: €114k▲ +32.1% vs 2020
2022: €122k▲ +7.1% vs 2021
2023: €121k▼ -0.9% vs 2022
2024: €168k▲ +38.7% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€96k-€130k▲ 35.6%€131k▲ 0.4%€131k=€178k▲ 36.3%
2020: €96klowest in 5 years
2021: €130k▲ +35.6% vs 2020
2022: €131k▲ +0.4% vs 2021
2023: €131k● +0.0% vs 2022
2024: €178k▲ +36.3% vs 2023highest in 5 years
Operating result€58k-€50k▼ 14.2%€117k▲ 137%€124k▲ 5.9%€130k▲ 5.0%
2020: €58k
2021: €50k▼ -14.2% vs 2020lowest in 5 years
2022: €117k▲ +137% vs 2021
2023: €124k▲ +5.9% vs 2022
2024: €130k▲ +5.0% vs 2023highest in 5 years
Net result€42k-€38k▼ 8.5%€89k▲ 133%€93k▲ 3.4%€97k▲ 5.3%
2020: €42k
2021: €38k▼ -8.5% vs 2020lowest in 5 years
2022: €89k▲ +133% vs 2021
2023: €93k▲ +3.4% vs 2022
2024: €97k▲ +5.3% vs 2023highest in 5 years
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 5% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €274k
Fixed assets
€18k ▼ 28.0%
Current assets
€255k ▲ 5.9%
Equity and liabilities €274k
Equity
€178k ▲ 36.3%
Debt
€96k ▼ 29.7%
Debt's share of the balance-sheet total falls from 51.1% to 35.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€142k▲
2023 · €131k
Cash flow
€109k▲
2023 · €99k
Current ratio
2.92▲
2023 · 2.01
Quick ratio
2.60▲
2023 · 1.76
Debt to equity
0.54▼
2023 · 1.04
ROE
54.7%▼
2023 · 70.9%
ROA
35.6%▲
2023 · 34.7%
Interest coverage
78.62▼
2023 · 114.87
Debt ≤ 1 year
€88k▼
2023 · €120k
Debt > 1 year
€8k▼
2023 · €16k
Income taxes
€33k▲
2023 · €32k
Staff costs
€101k▲
2023 · €79k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 56 lines
Balance sheet
Code20232024
Assets
Total assets20/58€267k€274k▲
Fixed assets21/28€26k€18k▼
Tangible fixed assets22/27€26k€18k▼
Plant, machinery and equipment23€0€0=
Furniture and vehicles24€25k€18k▼
Other tangible fixed assets26€556€0▼
Financial fixed assets28€175€175=
Current assets29/58€241k€255k▲
Stocks and contracts in progress3€29k€28k▼
Stocks30/36€29k€28k▼
Amounts receivable within one year40/41€84k€50k▼
Trade receivables40€70k€22k▼
Other amounts receivable41€14k€28k▲
Cash at bank and in hand54/58€126k€173k▲
Deferred charges and accrued income490/1€2k€4k▲
Equity and liabilities
Total equity and liabilities10/49€267k€274k▲
Equity10/15€131k€178k▲
Contributions10/11€25k€25k=
Reserves13€32k€32k=
Non-distributable reserves130/1€3k€3k=
Reserves not available under the articles1311€3k€3k=
Distributable reserves133€29k€29k=
Profit (loss) carried forward14€74k€121k▲
Amounts payable17/49€136k€96k▼
Amounts payable after more than one year17€16k€8k▼
Financial debts170/4€16k€8k▼
Amounts payable within one year42/48€120k€88k▼
Current portion of amounts payable after more than one year42€7k€23k▲
Trade debts44€7k€4k▼
Suppliers440/4€7k€4k▼
Advances received on contracts in progress46€2k€98▼
Taxes, remuneration and social security45€11k€11k▼
Taxes450/3€3k€2k▼
Remuneration and social security454/9€9k€9k▲
Other amounts payable47/48€93k€50k▼
Income statement
Code20232024
Remuneration, social security and pensions62€79k€101k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€11k▲
Other operating charges640/8€829€1k▲
Gross operating margin9900€210k€244k▲
Operating profit (loss)9901€124k€130k▲
Financial income75/76B€928€2k▲
Recurring financial income75€928€2k▲
Financial charges65/66B€1k€2k▲
Recurring financial charges65€1k€2k▲
Profit (loss) for the period before taxes9903€124k€131k▲
Income taxes67/77€32k€33k▲
Profit (loss) for the period9904€93k€97k▲
Transfer from tax-exempt reserves789€29k-
Profit (loss) for the period to be appropriated9905€122k€97k▼
Appropriation of the result
Profit (loss) to be appropriated9906€196k€171k▼
Profit (loss) brought forward from the previous period14P€74k€74k▲
Transfer to equity691/2€29k-
To other reserves6921€29k-
Profit to be distributed694/7€93k€50k▼
Return on contributions (dividend)694€93k€50k▼
Social balance
Average headcount (FTE)90871.82.2▲
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €96k | €147k | €79k | €101k | ▲ 28.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €9k | €7k | €6k | €11k | ▲ 78.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €-2k | - | - | - |
| Other operating charges640/8 | - | €642 | €2k | €829 | €1k | ▲ 29.8% |
| Gross operating margin9900 | €122k | €156k | €271k | €210k | €244k | ▲ 16.2% |
| Operating profit (loss)9901 | €58k | €50k | €117k | €124k | €130k | ▲ 5.0% |
| Financial income75/76B | - | €94 | €23 | €928 | €2k | ▲ 110% |
| Recurring financial income75 | €180 | €94 | €23 | €928 | €2k | ▲ 110% |
| Financial charges65/66B | - | €1k | €955 | €1k | €2k | ▲ 58.6% |
| Recurring financial charges65 | €1k | €1k | €955 | €1k | €2k | ▲ 58.6% |
| Profit (loss) for the period before taxes9903 | €57k | €49k | €116k | €124k | €131k | ▲ 5.3% |
| Income taxes67/77 | €15k | €10k | €27k | €32k | €33k | ▲ 5.2% |
| Profit (loss) for the period9904 | €42k | €38k | €89k | €93k | €97k | ▲ 5.3% |
| Transfer from tax-exempt reserves789 | - | - | - | €29k | - | - |
| Profit (loss) for the period to be appropriated9905 | €12k | €38k | €89k | €122k | €97k | ▼ 20.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €255k | €227k | €370k | €267k | €274k | ▲ 2.6% |
| Fixed assets21/28 | €12k | €16k | €9k | €26k | €18k | ▼ 28.0% |
| Tangible fixed assets22/27 | €12k | €16k | €8k | €26k | €18k | ▼ 28.2% |
| Plant, machinery and equipment23 | - | - | - | €0 | €0 | - |
| Furniture and vehicles24 | - | €13k | €6k | €25k | €18k | ▼ 26.6% |
| Other tangible fixed assets26 | - | €3k | €2k | €556 | €0 | ▼ 100% |
| Financial fixed assets28 | €355 | €355 | €175 | €175 | €175 | = |
| Current assets29/58 | €243k | €211k | €361k | €241k | €255k | ▲ 5.9% |
| Stocks and contracts in progress3 | €4k | €7k | €12k | €29k | €28k | ▼ 4.5% |
| Stocks30/36 | - | €7k | €12k | €29k | €28k | ▼ 4.5% |
| Amounts receivable within one year40/41 | €176k | €108k | €259k | €84k | €50k | ▼ 40.3% |
| Trade receivables40 | - | €81k | €224k | €70k | €22k | ▼ 68.2% |
| Other amounts receivable41 | - | €27k | €36k | €14k | €28k | ▲ 95.9% |
| Cash at bank and in hand54/58 | €62k | €93k | €84k | €126k | €173k | ▲ 37.5% |
| Deferred charges and accrued income490/1 | - | €3k | €6k | €2k | €4k | ▲ 147% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €255k | €227k | €370k | €267k | €274k | ▲ 2.6% |
| Equity10/15 | €96k | €130k | €131k | €131k | €178k | ▲ 36.3% |
| Contributions10/11 | - | €25k | €25k | €25k | €25k | = |
| Reserves13 | €32k | €32k | €32k | €32k | €32k | = |
| Non-distributable reserves130/1 | - | €3k | €3k | €3k | €3k | = |
| Reserves not available under the articles1311 | - | €3k | €3k | €3k | €3k | = |
| Tax-exempt reserves132 | - | €29k | €29k | - | - | - |
| Distributable reserves133 | - | - | - | €29k | €29k | = |
| Profit (loss) carried forward14 | €39k | €73k | €74k | €74k | €121k | ▲ 64.5% |
| Amounts payable17/49 | €159k | €97k | €239k | €136k | €96k | ▼ 29.7% |
| Amounts payable after more than one year17 | €3k | - | - | €16k | €8k | ▼ 48.8% |
| Financial debts170/4 | - | - | - | €16k | €8k | ▼ 48.8% |
| Amounts payable within one year42/48 | €157k | €97k | €239k | €120k | €88k | ▼ 27.2% |
| Current portion of amounts payable after more than one year42 | - | €5k | €29k | €7k | €23k | ▲ 202% |
| Trade debts44 | €94k | €55k | €93k | €7k | €4k | ▼ 43.3% |
| Suppliers440/4 | - | €55k | €93k | €7k | €4k | ▼ 43.3% |
| Advances received on contracts in progress46 | - | €7k | €2k | €2k | €98 | ▼ 95.1% |
| Taxes, remuneration and social security45 | - | €30k | €27k | €11k | €11k | ▼ 3.0% |
| Taxes450/3 | - | €11k | €5k | €3k | €2k | ▼ 14.1% |
| Remuneration and social security454/9 | - | €18k | €22k | €9k | €9k | ▲ 0.6% |
| Other amounts payable47/48 | - | - | €89k | €93k | €50k | ▼ 45.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €42k | €38k | €89k | €93k | €97k | ▲ 5.3% |
| + Depreciation and write-downs630 | €7k | €9k | €7k | €6k | €11k | ▲ 78.8% |
| Operating cash flow (approximation) | €49k | €47k | €97k | €99k | €109k | ▲ 10.0% |
| Investment in fixed assets (approximation) | - | €-13k | €180 | €-24k | €-4k | ▲ 82.4% |
| Change in cash | - | €32k | €-9k | €42k | €47k | ▲ 12.6% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €97k ▲5.3%
Operating result €130k, net result €97k, both a record.
31-12
Financial
Equity above €150kEq €178k ▲36.3%
7 profitable years in a row build equity to €178k.
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 23 days late
2021
31-12
Financial
Equity above €100kEq €130k ▲35.6%
4 profitable years in a row build equity to €130k.
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 24 days late
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
2019
09-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 9 days late
2018
08-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 8 days late
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 22 days late
2016
04-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Couvin · 1 establishment unit since 1990
Ground area
4,390 m²
Building footprint
1,037 m²
Parcel 93039B0137/02D002, Wallonia. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
Rue des Mousquetaires Gris 35, 5660 Couvin
since 19902.130.571.742
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 93039B0137/02D002 | Wallonia | 4,390 m² | 1 · 1,037 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 230 companies in sector 20590 we hold annual accounts for 169. 62 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded06-08-1979
Fiscal year end31-12
Activities, NACEBEL 2025
20130Manufacture of chemicals and chemical products
20590Manufacture of chemicals and chemical products
Scores and ratios are computed by Checked and are not a credit decision.